(Alliance News) - Drilling work is going well at Ghanaian lithium projects, IronRidge Resources Ltd said on Thursday, with new mineralised zones discovered on multiple prospects.
IronRidge has drilled over 8,000 metres of a planned 13,200 metres in Ghana.
It has found "multiple" visual spodumene-bearing pegmatite zones at the Ewoyaa North, Ewoyaa North-East, and Abonko targets, and assay results are pending. Spodumene is an ore of lithium.
Elsewhere, at the Kaampakrom target, IronRidge has found a new coarse spodumene pegmatite one kilometre to the north of Ewoyaa. It is over 250 metres in strike and could extend to as much as 500 metres.
IronRidge, which is targeting a maiden mineral resource estimate in the first quarter of 2020, has also discovered new pegmatites at the Ndasiman and Krofo targets, which are ten kilometres west and three kilometres north-west of Ewoyaa respectively.
Chief Operating Officer Len Kolff said: "Drilling is progressing well with approximately a third of the planned RC and diamond programme remaining. We are pleased to report that drilling has defined new pegmatite zones along the known Ewoyaa deposit footprint, with visual spodumene in RC drill chips and assays pending."
Kolff said the Kaampakrom discovery is "especially" encouraging, while Ndasiman and Krofo are also both promising.
"The Ghana field team has done a great job in advancing the resource drilling programme and the exploration pipeline through diligent, staged field work where results demonstrate further exploration upside within the Cape Coast lithium portfolio," he added.
IronRidge shares were flat on Thursday afternoon at a price of 14.50 pence each.
By George Collard; georgecollard@alliancenews.com
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